Critical Resources

Break out, advance, consolidate. Break out, advance, consolidate. Rinse and repeat. That is the classic behavior of a multi-year bull market. Prices move into new, higher territory (the breakout), the trend rallies and makes the longs a lot of money (advancement), and then the trend takes a breather, moves sideways, and digests the gains (consolidate).

AI bulls can start 2026 with a spring in their step. After all, the VanEck Semiconductor ETF (SMH) is trading at an all-time high, and they are winning the great “AI Boom or AI Bust” debate.

As we head into 2026, we can look at the chart of the Range Nuclear Renaissance ETF (NUKZ) and say, “It’s still a bull market in nuclear energy investments.”

“Many critical resource projects take 5 – 10 years to go from an idea on paper to producing raw materials. So, when a resource market trends in one direction, the trend tends to last for years.”

This morning’s review of our Global Trend Tracker shows it’s been tough to make money in most sectors lately. Semiconductors, robotics, oil, bitcoin, uranium, space, drones, and China are all down over the past five trading sessions.

The critical resource industry is in a bull market. The latest evidence: Canadian stocks recently climbed to all-time highs.